US Senate Advances GENIUS Stablecoin Bill
The US Senate has passed the GENIUS stablecoin bill in a 68-30 vote, marking a pivotal moment for cryptocurrency regulation in the United States. Officially titled the Guiding and Establishing National Innovation for US Stablecoins Act, this legislation aims to modernize payment systems and encourage innovation in the digital asset sector. Senator Bill Hagerty of Tennessee highlighted the bill’s potential to enable near-instantaneous transactions, addressing current inefficiencies in both traditional and digital finance.
Thailand Introduces Five-Year Crypto Tax Holiday
Thailand has implemented a strategic five-year exemption on capital gains taxes for cryptocurrency transactions conducted through licensed platforms, effective from 2025 to 2029. Deputy Finance Minister Julapun Amornvivat stated this measure positions Thailand as a competitive hub for digital assets while ensuring compliance with international standards set by the Financial Action Task Force.
Bitcoin Shows Sensitivity to Geopolitical Events
The Bitcoin market demonstrated its reactivity to global affairs with a 2% price drop following geopolitical tensions involving the US and Iran. This movement underscores the cryptocurrency market’s connection to broader international developments.
The Future of Digital Asset Regulation
With the GENIUS Act moving to the House of Representatives, the US takes another step toward comprehensive crypto legislation. Concurrently, Thailand’s tax policy offers a model for other nations considering fiscal approaches to digital assets. These developments collectively signal an evolving global framework for cryptocurrency oversight and market growth.
